The Chamber of Petroleum Consumers (COPEC) anticipates that fuel prices will likely remain steady in October.
Although there may be a 1% rise at the pumps, COPEC projects that oil marketing corporations will not pass on the cost to consumers owing to competition.
Duncan Amoah, the Executive Secretary of COPEC, attributed the price stability to the stabilization of the cedi as well as the international price of oil.
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“There have been some price variations as far as the international market pricing is concerned and again, there has been some relative stability with the local currency over the last two weeks period.”
“The pump price could have reflected some 1% upward adjustment but having spoken to a good number of oil marketing companies, we are confident that prices will remain at the current level so it is not likely you will get an increase, it is unlikely there will be a reduction, the OMCs are likely to maintain pump prices at the level that they currently sell for the first pricing window in the month of October.”
